Mineral Resources

Mineral Resources

Its gold, copper, cobalt and iron polymetallic deposit in Pongo, Peru
controls a mine lot of 263 square kilometers and owns 39 mineral rights, with a
possible ore of 10 billion tons of iron, 11 million tons of copper, 750 tons of
gold, 87,000 tons of silver, 1.04 million tons of cobalt and 400 tons of
rhenium. At present, 15 mineral rights have proved resource reserves of 3.8
billion tons of iron, 3.66 million tons of copper, 215 tons of gold, 29,000 tons
of silver and 206,000 tons of cobalt. There are also many rare elements such as
cerium, molybdenum, lithium, lanthanum, strontium, gallium, rubidium, scandium,
yttrium and niobium.

Conforming to the "One Belt One Road" cooperation
initiative in our country, relying on the state interests capacity cooperation
projects signed by the two countries of China and Peru, making full use of the
relevant agreement policies between the two countries, it actively introduces
domestic and foreign large-scale iron and steel and nonferrous metal smelting
enterprises as strategic partners and adopts equity, debt financing and other
ways to speed up the development of the gold, copper, cobalt and iron
polymetallic deposit in Pongo, Peru to realize the conversion of resources,
assets and capital. It will continue to explore the existing mineral rights and
construct San Juan ore resources special port by allying with the Peruvian Iron
Company in Shougang Group, Peruvian Marcona Copper Mine, China Railway
Construction Co. Ltd. and China Civil Engineering Group, etc.. It will build a
100 million-ton grade overseas mineral resource base and become one of the
global top suppliers of mineral resources to provide resources support for
national economic construction.